Where do I stack up against the Money Board? | TigerDroppings.com

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TDsngumbo
LSU Fan
Member since Oct 2011
5463 posts

Where do I stack up against the Money Board?



I save/invest $1,700 a month. How do I compare to all of you?


This post was edited on 3/26 at 3:14 pm



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GenesChin
Ole Miss Fan
The Promise Land
Member since Feb 2012
11540 posts

re: Where do I stack up against the Money Board?


Better than me.

College student -$/per month

20.4k$ /year sounds pretty good. How old/what point in your career are you? Just for my own refernce



This post was edited on 3/26 at 3:19 pm


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TDsngumbo
LSU Fan
Member since Oct 2011
5463 posts

re: Where do I stack up against the Money Board?


34 years old
Just hit the reset button on my career so I started my current position about 9 months ago.
A little more than $76,000/year combined income
7 year old house, 1 old car and 1 new car, no kids
All debt except the house will be paid off by the end of next month.

All I did was simply took a step back from my emotions and gave my finances a serious, non-biased review. I found out the wife and I could really live off of only her income and a few hundred dollars a month of my income. Once I learned that, saving and investing was very easy. I feel so stupid for not seeing it sooner in life but better late than never I guess.






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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Where do I stack up against the Money Board?


quote:

I save/invest $1,700 a month. How do I compare to all of you?


Better than I.

No full-time job yet in my degree field. Save $200 a month in a roth right now.

Once I get a job planning on putting about $900 in my roth and into my wife's roth.

Zero debt other than house. Age 24, wife 28.

2 paid off cars, 2011 chevy car and 2007 nissan

Income is so sporadic is hard to save with an unknown future.






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Ice Cream Sammich
LSU Fan
Baton Rouge
Member since Apr 2010
7060 posts

re: Where do I stack up against the Money Board?


Much better than I am.

Full time college student.
Part time job.
Will have my truck paid off at the end of this year.
I save around $200-$300 per month.
I buy anything and everything I want, I have no self control. This needs to change.

I graduate in May.
I have a full time job waiting on me making $3000 plus commission and almost a 50% raise after 1 year. (Family company)
Car will be paid for.
Rent will be under $600 per month.

How long till Im homeless?






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GenesChin
Ole Miss Fan
The Promise Land
Member since Feb 2012
11540 posts

re: Where do I stack up against the Money Board?


quote:

Ice Cream Sammich



What part time job in college doyou have that you can afford to save 200-300$/month and still pay for everything else?

My parents help me out a lot but even if I got a part time job and worked 8 hours/week and saved it all I wouldn't hit 300$






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GoCrazyAuburn
Auburn Fan
Member since Feb 2010
14985 posts

re: Where do I stack up against the Money Board?


Pretty good I would assume (though depends on age and income). Does that include your 401(k) contributions or anything of that nature, or is it just personal stuff?





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Ice Cream Sammich
LSU Fan
Baton Rouge
Member since Apr 2010
7060 posts

re: Where do I stack up against the Money Board?


quote:

What part time job in college doyou have that you can afford to save 200-300$/month and still pay for everything else?


I work 20-30 hours a week, including weekends. I get paid a hair over minimum wage but I make commission of my contracts.






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GenesChin
Ole Miss Fan
The Promise Land
Member since Feb 2012
11540 posts

re: Where do I stack up against the Money Board?


quote:


I work 20-30 hours a week, including weekends. I get paid a hair over minimum wage but I make commission of my contracts.


20-30 hours/week would kill me. You are a better man than me






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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1632 posts

re: Where do I stack up against the Money Board?


At the end of the month I might have $1500 of unaccounted for money that I stuff into savings so I don't accidentally spend it. I put 10% of income into 401(k). I am transferring all of my savings/emergency fund to PenFed. I am trying to determine what I am going to do as far as a Roth IRA. I plan to open one this year, although I still have not done so. My company offers a Roth IRA plan through John Hancock, but I have not acted upon their offering.





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Ice Cream Sammich
LSU Fan
Baton Rouge
Member since Apr 2010
7060 posts

re: Where do I stack up against the Money Board?


I just started this job a little over a year ago. I worked for the state before this and I had much more time for things and much better grades.

But, if I tough it out and graduate in May, I will have a good job waiting on me and a quick route to the top.

Sorry for jumbling up your thread, OP. I am a MB newbie.






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TDsngumbo
LSU Fan
Member since Oct 2011
5463 posts

re: Where do I stack up against the Money Board?


quote:

Does that include your 401(k) contributions or anything of that nature, or is it just personal stuff?


Well without my work contributions it's really about $1,300 of my own stuff. That is to say, $1,300 of my money each month goes into savings/investments that I've chosen on my own that are separate from work.






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TDsngumbo
LSU Fan
Member since Oct 2011
5463 posts

re: Where do I stack up against the Money Board?


quote:

I am trying to determine what I am going to do as far as a Roth IRA. I plan to open one this year, although I still have not done so.


Dude, it's so easy to open one with Vanguard. Their charges are extremely low and are the lowest in the industry, in fact. It took me about 15 minutes to open one online and it's very easy to contribute each month.






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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1632 posts

re: Where do I stack up against the Money Board?


I understand that. I have not focused much attention on opening a Roth IRA. I will have one opened at some point this year. I haven't spent enough time comparing Fidelity, Vanguard, and John Hancock for me to open one yet.





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dlmast87
Ohio State Fan
Amishville
Member since Dec 2007
1363 posts
 Online 

re: Where do I stack up against the Money Board?


Combined take home - 70k
Save for house, car, emergency - 2400
Roths - 917 (Max)
401k - 170

60% of net income






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AutoYes_Clown
Alabama Fan
Baton Rouge, LA
Member since Oct 2012
1957 posts

re: Where do I stack up against the Money Board?


Good for you. The idea is to keep living like you are even when you get returns, income increases, debts decrease, and you become more financially free.

BTW, saving =\= investing nor are both considered disposable. They are really two seperate things.






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Zach
LSU Fan
Member since May 2005
64413 posts

re: Where do I stack up against the Money Board?


I'm retired. Over the last 6 months my stocks have earned an average of 4K a month. Best streak I've had in 6 months.

Lucy does not save money. She spends it on running gear, beauty products and books for her E reader.

My earliest memory of savings was 1st grade at Dodson Elementary School. Kindergarten didn't exist in those days in New Iberia. They gave each of us a pencil donated to the school by the bank.

It had a small graphic of money and interest earned. Since the class seemed slow I looked at the pencil and thought how much money savings can make.






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
35068 posts
 Online 

re: Where do I stack up against the Money Board?


quote:

I save/invest $1,700 a month. How do I compare to all of you?




J/K/ Good job.



This post was edited on 3/26 at 4:37 pm


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aaronb023
LSU Fan
Boxtard Baseball Club
Member since Feb 2005
10627 posts

re: Where do I stack up against the Money Board?


quote:

34 years old Just hit the reset button on my career so I started my current position about 9 months ago.




Im in the process of doing that now but its a hard thing to do. a year ago we were putting away up to 3k or more a month. now we are breaking even.






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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
19339 posts

re: Where do I stack up against the Money Board?


Age: 27
Take home a year after taxes: Approx. 45k to 47k but rising.
Current Investments per month including employer: $770 approx. Full HSA and 401k contributions, Roth fully funded 2012 but no contributions this year so far due to maxing the other two accounts.

Putting a good amount away for a ring, however, that amount then switches over to loan payments once purchased.



This post was edited on 3/26 at 6:14 pm


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